After a long time the market gives a green signal and we see that altcoins are pumping and getting some good momentum. However, Bitcoin is at its price range but altcoins are taking a good push which signals a good start for altseason.
The main reason for the altcoin pump is the decrease in dominance. As compared to last week dominance has decreased and is a good sign for the alteason start. We are hoping that dominance will keep on decreasing until the next month to start a heavy bull cycle.
Whenever you see that the price of Bitcoin is steady or decreasing while altcoins are coming down or instead going upside then consider it a signal for alt bull season or maybe the dominance is decreasing.
Just now at the time of writing the price of Bitcoin is at $96500 which has decreased for more than 2% but still altcoins are pumping and taking a good momentum.
Specially some of the altcoins which are rising in a very good way. Rune which has crashed very badly has rose more than 18%. The price of Rune was around $1.2 but now at the time of writing its price is $1.55.
Similarly there are other crypto coins which has rose more than 10% and that is how a dominance helps the price of altcoins to give a good pump
What do you people think about Bitcoin dominance? Will it keep on decreasing? Will be glad to see your answers in the comment section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
IMAGE TAKEN AND EDITED IN CANVA
Thank You!
Best Wishes.
